OREANDA-NEWS. August 17, 2012. Reference is made to (i) the announcement of PetroChina Company Limited (the "Company") dated 18 May 2011 in relation to, amongst others, the general mandate (the "General Mandate") granted to the board of directors of the Company (the "Board") to determine and handle the issue of debt of financing instruments of the Company in the outstanding balance amount of up to RMB100 billion upon such terms and conditions to be determined by the Board and (ii) the announcement of the Company dated 19 July 2012 in relation to the approval on the issuance of corporate bonds by the Issuance Review Committee of China Securities Regulatory Commission (the "CSRC"), reported the press-centre of PetroChina. 

The Board hereby announces that, the Company has received the "Notice of Approval on the Issuance of Corporate Bonds by PetroChina Company Limited" (Securities Regulatory Approval No. 993 of 2012) (the "Approval") from the CSRC, approving the Company to issue corporate bonds to the public within the People's Republic of China with an aggregate principal amount of not more than RMB40 billion.

The Company will issue the corporate bonds in multiple tranches with the first tranche in the amount of not less than 50% of the aggregate principal amount and to be issued within 6 months from the date of approving the issuance of corporate bonds. The issuance of the remaining tranches will complete within 24 months from the date of approving the issuance of corporate bonds and the Approval will be valid for 24 months.

The Board will implement the matters in relation to the issuance of corporate bonds within the valid period of the Approval in accordance with the relevant laws and regulations and the requirements set out in the Approval and the General Mandate. The Board will make further announcements upon the implementation of such matters.